You should also know, that there are more discbound planners than just the Happy Planner. Plus, the Happy Planner also offers expansion discs to even increase the number of pages your planner can hold. They come out with new designs a couple of times a year so you can really find a planner that speaks to you and your style. They come in several sizes ( compare the Happy Planner sizes here), and they are so stinkin cute! Then, you can add your own printable planner pages to it in order to create your perfect planner. Those who are enjoying a well-deserved rest from work have been ignored.First, let’s talk about discbound planners, because we all know about the Happy Planner being a great option for this. Mr Hunt’s NI cuts must be welcomed as they reward work, but the omission of pensioners is punishing work done years before. Only when this is done, can we all be sure we are paying a fair rate. Never mind tinkering around the edges, Mr Hunt really should have raised the personal allowance to perhaps £20,000 and raised the higher rate threshold too. These people are welcome to make voluntary tax contributions to the Treasury. Some have argued that tax rates should not have fallen today, and that investing in public services should take priority. The Chancellor’s failure to act on inheritance tax today also leaves retirees with the burden of having to organise their estate to ensure none of it is needlessly lost to the taxman. It is tantamount to theft of what has already been earned and carefully invested.Įvery pensioner who has been dragged into the income tax trap also has to make arrangements with HM Revenue and Customs to cover what they owe, resulting in yet more unwelcome admin in retirement. It means any retiree who is paid anything over £180 from their private pension each month will trigger a tax bill.īy increasing the tax burden on private pensions, Mr Hunt is making it clear that anyone who has prudently saved is now fair game to pick up the bill for Britain’s wasteful public spending. The average state pension will hit £10,406 next month – consuming more than 80pc of the tax-free allowance, according to consultancy LCP. This is because the personal allowance – the amount that anyone can earn without paying income tax – will stay stuck at £12,570 for another four years. Yet under this new Tory stealth tax regime, the triple lock is becoming less and less valuable, and more and more of meaningless pledge. This represents a seismic shift from the generational politics of the previous decade that saw David Cameron and George Osborne pander to Baby Boomers by promising the state pension triple lock and inheritance tax cuts. The books have to be balanced so there are always winners and losers. The Chancellor gives with one hand and takes with the other. Even with today’s NI giveaway, the UK is still on track to break the record 1948 tax burden, the Institute for Fiscal Studies says. Since the Conservatives came to power in 2010, the average income tax bill for retirees has risen by £400 and will rise further under the deep freeze on tax thresholds, which is still due to remain in place until at least 2028.īudgets are always about smoke and mirrors. This would be all well and good had pensioners not been asked to pay significantly more tax at the same time. Pensioners of course benefit from the Government’s sworn commitment to the triple lock that last year handed those on the new state pension an annual increase of around £1,000, and will add another £900 next month. The surprise announcement that the high-income child benefit charge threshold will be raised from £50,000 to £60,000 is another big giveaway to working families. The Chancellor went further on Wednesday and made it clear that the party wanted to “continue to cut” NI, suggesting pensioners will continue to miss out. That’s around £900 of personal taxation giveaways that pensioners have missed out on in the past six months. Those aged 66 and over do not pay NI, and as a result they have been left empty-handed twice now following this Budget and last year’s Autumn Statement. The cut will save the average worker £450 and comes after National Insurance was reduced by two percentage points at the start of the new year. The Chancellor’s headline 2p National Insurance cut is said to be all about rewarding graft and ensuring that work pays in Tory Britain.īut in reality, it is a veiled insult to the retirees who have worked hard all their lives and are now drawing income from their private pensions – and paying more tax than any previous retired generation.
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